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Solution to renegotiate PPA with Enron to be found soon: Joshi
An amicable solution to the knotty problem of renegotiating the power purchase agreement (PPA) with the Enron-promoted Dabhol Power Company will be found soon, Union Minister for Heavy Industry and Public Enterprises Manohar Joshi said in Toronto on Wednesday.
An amicable solution to the knotty problem of renegotiating the power purchase agreement (PPA) with the Enron-promoted Dabhol Power Company will be found soon, Union Minister for Heavy Industry and Public Enterprises Manohar Joshi said in Toronto on Wednesday.
''The Central government is optimistic about en early resolution of the dispute,'' the Minister said addressing a meeting organised by Canada-India Business Council. More than twenty five top Canadian companies attended the meeting.
The Minister said that the Maharashtra government appointed re-negotiation panel headed by Dr Madhav Godbole was going into the matter in detail. The project has been mired in financial disputes when its main customer, the Maharashtra State Electricity Board failed to pay several bills. Dabhol has come under fire because of the relatively high cost of its power.
Referring to policy initiatives taken by the Indian government to attract foreign investment in power, Joshi said that the government had several measures to encourage foreign investors to invest in India.
In a separate meeting, Joshi was honoured by the President of Vishwa Hindu Parishad of Canada, L M Sabherwal and the President of the Overseas Friends of BJP, Narender Bhalla. Addressing a meeting of Indian community, organised by Marathi Bhasik Mandal, the Minister called upon NRI's to invest in India. Describing the community as "true ambassadors of India," Joshi said the recent efforts of the government to liberalise the economy has made India an attractive place for foreign investments.
Bureau Report
The Minister said that the Maharashtra government appointed re-negotiation panel headed by Dr Madhav Godbole was going into the matter in detail. The project has been mired in financial disputes when its main customer, the Maharashtra State Electricity Board failed to pay several bills. Dabhol has come under fire because of the relatively high cost of its power.
Referring to policy initiatives taken by the Indian government to attract foreign investment in power, Joshi said that the government had several measures to encourage foreign investors to invest in India.
In a separate meeting, Joshi was honoured by the President of Vishwa Hindu Parishad of Canada, L M Sabherwal and the President of the Overseas Friends of BJP, Narender Bhalla. Addressing a meeting of Indian community, organised by Marathi Bhasik Mandal, the Minister called upon NRI's to invest in India. Describing the community as "true ambassadors of India," Joshi said the recent efforts of the government to liberalise the economy has made India an attractive place for foreign investments.
Bureau Report